Danaher Corp. (DHR) reported first-quarter net earnings from continuing operations of $691.9 million or $0.98 per share, compared to $520.0 million or $0.73 per share, prior year. The first-quarter 2013 earnings from continuing operations include gains from the sale of the Apex Tool Group LLC joint venture and discrete tax benefits. Excluding the gains, adjusted profit per share from continuing operations were $0.75. Net earnings was $691.9 million or $0.98 per share, compared to $612.9 million or $0.86 per share prior year.
Sales were $4.4 billion, 3% higher than the $4.3 billion last year. Core revenues increased 1.0%. The company reported higher sales, and gross profit but lower operating profit for the quarter.
On average, 23 analysts polled by Thomson Reuters expected the company to report profit of $0.76 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $4.50 billion for the quarter.
The company expects second-quarter GAAP net earnings per share to be in the range of $0.80 to $0.85. The company reaffirmed full year 2013 adjusted net earnings per share guidance of $3.32 to $3.47. Analysts expect the company to report second-quarter profit per share of $0.87. Analysts expect the company to report fiscal 2013 profit per share of $3.45.
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